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U.S. regulators halt Citigroup's China expansion due to $136m fine for data management issues.
U.S. regulators, notably the Federal Reserve, have halted Citigroup's expansion in China due to a $136 million fine for data management and risk control issues.
The bank has not received a required clearance letter from the Fed, delaying its plans to establish a standalone securities firm in China.
Citigroup is still in talks with China's securities regulator and remains committed to its application and client support in the region.
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Los reguladores estadounidenses detienen la expansión china de Citigroup debido a la multa de $136m por problemas de gestión de datos.